Policy Manual
Department:
Section:
Subject:
SubSub-Topic:
Process Owners:
Author:
Status:
1.0
Human
Human Resource Management Division Reference No.
HRMD
Employee Benefits & Services
HRMDHRMD-0000400004-2013
Mary Therese Arive,
Arive, Cecille V Huidem
Maria Belinda J Dolores
Document type:
Public
Objective
The Company recognizes its employees as key assets.Thus, it strives its best to assist employees meet
their personal requirements through the provision of varied benefits and services. The granting of these
benefits and services may be revised should there be changes in government regulations, corporate
directions and/or financial standing.
2.0
3.0
Scope
This covers all benefits & services available to employees upon regular appointment, unless otherwise
stated.
Details
1. Financial Security
1.1. Life Insurance
The Company draws an insurance coverage for its employees with double indemnity in
case of accidental death, the amount of which depends on the employee category.
Employee Category
Amount of Life Insurance
Probationary
Php 50,000
Php 250,000 or
one annual salary + Php 10,000,whichever is higher,
with double indemnity in case of accidental death
Php 300,000 or
one annual salary + Php 15,000,whichever is higher,
with double indemnity in case of accidental death
Staff
Supervisor
Manager
Officer
One annual salary,
with double indemnity in case of accidental death
One annual salary,
with double indemnity in case of accidental death
Only next-of-kin may be designated by the insured as beneficiary/ies. This benefit shall
be in addition to the benefit due the employee under the Retirement Plan.
Upon resignation or retirement from service, the employee may opt to convert such
insurance to a permanent plan within thirty (30) days at his/her own expense.
1.2. Retirement Plan
The Company adopts a non-contributory Retirement Plan with the following requisites
and features:
a. Normal Retirement Benefit: Age 60 and with at least 20 years of service. Normal
Retirement Benefit (NRB) is computed as 150% of final monthly basic salary
multiplied by years of service.
b. Early Retirement Benefit: Age 50 with at least 10 years of service; 100% of the
accrued NRB upon retirement.
c. Late Retirement Benefit: Only when approved by the Company’s Board of Directors.
After age 60 but not beyond age 65; 100% of accrued NRB upon retirement.
d. Death Benefit: Whichever is higher between (a) accrued NRB as of date of death and
(b) one year’s pay. The benefit shall be provided under a Group Life Insurance Plan.
e. Total and Permanent Disability Benefit: Whichever is higher between (a) accrued
NRB as of date of disability and (b) one year’s pay. The benefit shall be provided
under a Group Life Insurance Plan.
f. Voluntary Separation Benefit: Accrued NRB as of date of separation reduced
according to the following schedule:
Years of Service
Percentage Payable of NRB
Less than 10 years
Nil
10
50%
11
55%
12
60%
13
65%
14
70%
15
75%
16
80%
17
85%
18
90%
19
95%
20 or more
100%
2. SLGFI Health Plan for Employees
Table of Benefits1
In-Patient Services
Employee
• Room & board (daily
limit; max of 31 days)
• Special Hospital
Services
• Surgical Benefit
• Physician’s Visits (daily
limit; maximum of 31
days, limit to be
shared by a maximum
of 2 physicians)
• Limit per Disability
Dependent (max of 2)
R&F
Supervisor
Manager
Officer
1,000
1,500
2,000
2,500
As charged
As charged
As charged
As charged
30,000
500
40,000
550
50,000
600
60,000
650
75,000
100,000
125,000
150,000
50% of employee’s coverage, except for special hospital services which will
be as charged.
Out-Patient Services and Medicines
Employee
12,500
15,000
17,500
20,000
Dependent (max of 2)
5,000
6,250
7,500
8,750
Others (For employees only, unless otherwise stated)
Standard package2; at the Company Clinic (for employees in Head Office
• Annual Physical Exam
and nearby branches) or accredited clinic (for others)
At the Company Clinic
• Consultations with
Medical Retainers
For first aid purposes. C/o Company Clinic.
• Ordinary Medicines
Definition of Terms:
In-Patient
Room and Board
Reimbursement of hospital room daily charges up to the specified daily
limit and subject to a maximum of 31 days. This includes room
accommodation, food services and routine nursing care
Special Hospital Services
Benefit
This benefit pays for the actual cost charged by the hospital for the
following:
a. Use of Operating Room and Treatment Room
b. Anesthesia and Oxygen and their administration (except
Anesthesiologist’s fee)
c. Transfusion including the cost of blood and plasma
d. Medicines and curative materials
e. Laboratory Services
f. Films and x-rays and their interpretation and certain special
1
Unless otherwise stated, stated amounts are annual maximum limits and are in pesos.
Consisting of routine physical exam, urine & stool exam, dental exam, eye check-up, chest x-ray, ECG for all 40+ y/o, Chem 6
blood test &CBC, optional pap smear for women 35+ y/o, optional prostate exam (PSA) for men 45+y/o, optional mammogram for
women 40+y/o.
2
g.
diagnostic procedures
Ambulance service (only for accidents resulting in the
hospitalization)
Surgical Benefits
Maximum benefit for professional charges made by the physician for
performing an operation up to the maximum amount stated in the
Schedule of Surgical Benefits. This includes post-operative care of the
patient.
Physician’s Visit
Maximum benefit for the physician’s daily professional visits for treatment
made in connection with a hospital confinement not involving surgery.
Disability
Shall mean all periods of disability arising from the same cause, including
any and all complications therefrom.
Additionally, the following outpatient procedures shall be considered under in-patient benefit:
1.
Stay of at least 6 consecutive hours in the emergency room.
2.
For surgical procedures and the following other procedures, irrespective of length of stay in the hospital:
a.
b.
c.
d.
e.
f.
g.
Endoscopy
Cystoscopy
Gastroscopy
Colonoscopy
Extracorporeal Shock Wave Lithotripsy
Cataract Removal
Suturing
Out-Patient / Prescribed Medicines
A benefit given if a covered employee/dependent incurs expenses at a hospital or clinic without being confined.
The following benefits are considered:
a.
b.
c.
d.
Consultation Fee
Prescribed Laboratory, X-rays
Prescribed Medicines
Prescribed Diagnostic Test
Company Clinic
This shall refer to the Grepalife Building Clinic.However, should the required service/facility not be available,
referrals to the Grepalife Medical and Diagnostic Clinic (GMDC) at RCBC Plaza may be made.
Guidelines
1.
Benefit Period
Benefit period shall be from July 1 to June 30. Meaning, replenishment of annual limits and implementation of
any changes shall be done every July 1.
2.
Eligible Employees
a. Permanent employees as of July 1 (start of benefit period).
3.
b.
Employees made permanent after July 1, effective permanency date
c.
Pay grade as of July 1; any promotion/upgrading shall be credited at the start of the next benefit period.
Eligible Dependents
a. Eligible dependents are
i. For employees who are married, widowed, separated or are single parents: Legal spouse (up to 64
y/o), natural/legitimate child (age 14 days – 21 y/o).
ii. For employees who are single: Parent (up to 64 y/o)
b.
Designated dependents should be enrolled at the start of the benefit period; any change, except in the
case of a newborn, shall be done at the start of the next benefit period.
i. Any dependent who exceeds the age limit for coverage during the benefit period shall have his
coverage terminated effective his/her birthday; he/she may only be replaced by any other eligible
dependent at the start of the next benefit period.
ii. A newly born child may be enrolled starting 14 days old, provided that the number of dependents
has not been maximized yet.
iii. In case of death of a dependent, he/she may be replaced by any other eligible dependent at the start
of the next benefit period.
iv. In case of change in civil status, the change in eligible dependents shall be made at the start of the
next benefit period.
c.
4.
5.
If spouses are both employed by the Company, only one may claim dependents.
In-Patient Services
a. In-Patient services shall be provided through health cards, the cost of which shall be shouldered by the
Company. The list of accredited hospitals/physicians shall be provided.
b.
Should an employee wish to provide health cards for enrolled dependents, the cost shall be charged to
his account. Dependents with no health cards shall be under a reimbursement scheme.
c.
PhilHealth benefits shall first be applied prior to the GPL Health Plan.
d.
Any amount beyond the annual maximum limit shall be for the employee’s account and should be settled
personally with the hospital/physician.
e.
Employees and dependents with health cards should use the services of accredited hospitals and
physicians. Use of non-accredited hospitals and physicians may be allowed, subject to the screening of
the Company Clinic. If allowed, a maximum of 80% of authorized expenses may be reimbursed.
Out-Patient Services and Prescribed Medicines
a. Charges for out-patient services and prescribed medicines shall be for reimbursement, up to the annual
maximum limit. Exception shall be if these are provided by the Company Clinic, in which case it shall be
directly charged to the Company’s account, up to the annual maximum limit.
b.
Head Office employees should use the available facilities and consultants of the Company Clinic or
Grepalife Medical and Diagnostic Clinic (GMDC) on work days/hours. Without prior clearance from the
Company Clinic or GMDC, a maximum of 80% of authorized expenses shall be covered/ reimbursed for
outpatient services done outside.
c.
6.
7.
Over the counter medicines and vitamins may be reimbursed without the need for prescription, up to a
certain limit. The limit per benefit period for an employee is P2,500; for each qualified dependent,
P1,000.
Limitations
a. The number of days that the employee/dependent is confined in a hospital shall be considered to be the
number of days for which the hospital charges for room and board.
b.
No benefit shall be payable as a result of a confinement in any hospital where care is provided to the
employee/dependent without charge.
c.
No benefit shall be payable with respect to any period of hospital confinement or special hospital
services unless the entire confinement and all the special hospital services so rendered and performed
had been recommended and approved by a physician or surgeon.
Exclusions
No benefit shall be paid for the following services, products or conditions:
a.
b.
c.
d.
e.
f.
g.
h.
i.
j.
k.
l.
m.
n.
o.
p.
q.
r.
s.
t.
Functional disorders of the mind/psychiatric illness such as but not limited to anxiety and depression;
Non-surgical care for tuberculosis/rest cures/PTB medicines;
Congenital anomalies;
Sterilization of either sex;
Hospitalization primarily for diagnosis, X-ray examinations, occupational/physical therapy, medical exam as
prevention, or check-ups/executive check-ups not required in connection with the treatment of sickness or injury;
Dental examination, extractions, fillings and general dental attention;
Examination of the eyes for the glasses;
Drug addiction or alcoholism;
Treatment for communicable disease in epidemic proportions (to be determined by the Department of Health)
requiring isolation or quarantine, e.g. smallpox, Severe Acute Respiratory Syndrome and any form of venereal disease;
Infection with Human Immunodeficiency Virus (HIV), Acquired Immune Deficiency Syndrome (AIDS), AIDS Related
Complex (ARC) or any opportunistic infections and/or malignant neoplasm (tumor) found in the presence of HIV,
AIDS or ARC.
1. For the purposes of this exclusion, the term Acquired Immune Deficiency Syndrome shall have the meanings
assigned to it by the World Health Organization, at the time of hospitalization.
2. Opportunistic infections shall include but are not limited to pnuemocystis carinii pneumonia, organism of
chronic enteritis virus and/or disseminated fungi.
3. Malignant neoplasm shall include but not be limited to Karposi’s Sarcoma, central nervous system lymphoma
and/or other malignancies now known or which become known as causes of death in the presence of AIDS.
Treatment for communicable disease in epidemic proportions (to be determined by the Department of Health)
requiring isolation or quarantine, e.g. smallpox, Severe Acute Respiratory Syndrome and any form of venereal disease;
Injuries due to insanity or self-infliction;
Special nursing care;
Disease or injury the care of which is provided by law;
Room, board and general nursing care or special hospital services not in accordance with the diagnosis and treatment
of the conditions for which hospital confinement is required;
X-ray therapy, radium therapy, radium and isotopes;
Cosmetic surgery for purposes of beautification except treatment of injury sustained in an accident while covered;
Dermatological medicines and procedures, except for the following: Topical antibiotics, steroids, cauterization of
plantar warts and Verruca (“kulugo”).
Any services or supplies for which no payment is required on account of the covered employee/dependent
receiving them;
Procurement or use special braces, appliances or equipment;
u.
v.
w.
x.
y.
z.
aa.
bb.
cc.
dd.
ee.
ff.
gg.
hh.
Circumcision, sex transformation, diagnosis and treatment of fertility or infertility, such as artificial insemination,
sterilization or reversal of such; for married female employees, prescribed oral contraceptives and injectables are
allowed but only up to P2500 per benefit period.
Allergy desensitization (cost of vaccine and allergens);
Immunizations, except if against rabies or tetanus but limited to first 24 hours after bite/exposure;
Laser treatment for the purpose or corrective eye refraction;
Cost of lens for cataract surgeries;
Purchase or lease of durable medical equipment, and oxygen dispensing equipment;
Vitamins beyond P1000 per benefit period;
Expenses for any kind of the following;
1. Additional and/or other items outside the first admission kit and ID tag provided
2. Extra bed
3. Extra tray or food
4. Rental of television set/cassette/radio
5. Registration/admission fee
6. Charges for copies of hospital records
7. Newspaper
8. Telephone calls
9. Other similar charges not related to the direct medical treatment of the patient
Medical or surgical procedures which are experimental in nature or not generally accepted as standard medical
treatment by the medical profession, that may include but is not limited to Chiropractic Services, Chelation Therapy,
herbal treatment and Acupuncture;
All expenses incurred in the process of organ donation and transplantation, unless the employee/ dependent is the
recipient of such donation or transplantation;
Routine physical examinations required in school, insurance and government licensing;*
Expenses in connection with pregnancy, including complications and abnormalities thereof:*
Others (acete de mansanilla, efficascent oil, pain killer, valda pastilles, sebo de macho, soap for skin disease);
Handling of pre-existing conditions
i. A “pre-existing condition” is defined as a condition for which an employee/dependent has received medical
advice, consultation or treatment by a licensed physician prior to enrollment in the SLGFI Health Plan. A
“condition” is any specific injury, disease or infirmity requiring medical treatment, advice, or medication
including all underlying or relating conditions.
ii. In the case of pre-existing conditions, benefits accruing to the SLGFI Health Plan may only be availed of starting
3 months (i.e., 90 days) from enrollment.
iii. The restriction on “pre-existing condition” shall not apply to employees and dependents who are enrolled in the
SLGFI Health Plan effective July 1, 2008, and continue to be enrolled thereafter.
*Annual physical exams, maternity benefits, and dental benefits are provided by the Company under a separate
program.
8.
General Requirements for Benefit Coverage and Availment
a.
Enrollment
i. Accomplishment of Health Plan Enrollee Data Sheet
ii. Health Card
iii. Accomplishment of required forms
b.
Reimbursement
i. Submission of original documents stated below to the Company Clinic (for medicine
reimbursements) or Human Resources Administration Department (for reimbursement of outpatient
procedures, i.e. unless done in the Company clinic, and coordination for in-patient requirements)
within seven (7) working days from availment.
c.
For in-patient services
i. Properly filled-up Statement of Claim
ii. Hospital Statement of Account
iii. Charge Slip Tickets
iv. Official receipts of payments (i.e., hospital bill and professional fees)
v. Prescription and official receipts of medicines bought during confinement
d.
For out-patient services
i. Medical certificate from attending physician, stating the medical diagnosis
ii. Official prescription for medicines and/or laboratory procedures
iii. Official receipt of payments for professional fees, medicines, and/or laboratory procedures
2.1. Optical Assistance
The Company subsidizes the cost of optical care, which includes cost of eyeglasses in
case of refraction, or change in lens within an 18-month cycle.
• Staff – Maximum of Php 1,200 every 18 months.
• Supervisors to Officers – Php1,500 optical care for first availment; Php 1,200 for
change in lens &/or frame at least every 18 months thereafter.
The above may be used for a single purchase or on a staggered basis.
2.2. Dental Benefit
The Company provides free ordinary dental treatment to employees at the Grepalife
Bldg. Clinic or Grepalife Medical and Diagnostic Center (GMDC). This includes ordinary
cement filling, light cure treatment for the anterior teeth, tooth extraction (up to 4 per
year), and annual prophylaxis.
Designated dependents may avail of one-time tooth extraction and prophylaxis per
year at Grepalife Bldg. Clinic:for possible endorsement to GMDC for emergency cases.
2.3Annual
2.3Annual Physical Examination
To ensure fitness and sound health, the Company provides an annual physical
examination, free of charge. However, any special/ follow-up diagnostic exam,
treatment or medication shall be covered by the other applicable Company benefits or
at the expense of the employee.
The standard exams are as follows:
a. Routine physical examination
b. Complete Blood Count (CBC)
c. Chem 6 Blood Test
d. Urine and stool examination
e. Dental examination
f. Eye check-up
g. Chest x-ray
h. Electrocardiogram (ECG) for 40 years old & above
i. Pap smear for female employees at least 35 years old (optional)
j. Mammogram for female employees at least 40 years old (optional)
k. Prostate examination for male employees at least 45 years old (optional)
Those who fail to undergo the annual physical examination within the prescribed period
are required to do so at their personal expense and may be subject to disciplinary
action.
3. Maternity Assistance
The SSS maternity benefit is a daily cash allowance granted to a female member who is unable
to work due to childbirth or miscarriage. This is equivalent to 100% of the member’s average
daily salary credit multiplied by 60 days for normal delivery or miscarriage, and 78 days for
caesarean cases.
The Company agrees to advance the SSS maternity benefit. However, in case the claim for
maternity reimbursement is disapproved by the SSS, the employee shall reimburse the
Company for whatever amount has been given to her as advanced SSS benefit and/or
company maternity assistance.
To supplement SSS maternity benefits, the Company grants the following financial assistance
for maternity requirements of its female employees:
Financial assistance of P12,000 for normal hospital delivery or P 18,000 for caesarean
delivery or D&C operation, or actual authorized expenses, whichever is lower. In case of
home delivery, financial assistance of P3,000 upon presentation of proof of delivery.
Any difference between SSS maternity benefit and the employee’s basic salary for the
authorized duration of the maternity leave.
For both of the above, eligibility, as well as maximum number of availments, shall follow SSS
rules and regulations.
4. Dreaded Disease Assistance
The Company provides financial assistance to an employee who is found suffering from
pulmonary tuberculosis, cancer, heart ailment, AIDS or any other dreaded disease.
An employee who goes on authorized leave of absence due to any of the above ailments
should first exhaust his sick leave and vacation leave credits. Thereafter, he shall receive Php
6,000 per month for a maximum of 6 months that he is on authorized leave without pay for a
qualified disease and after complying with requirements.
5. Standard Leaves (With Pay)
5.1. Vacation Leave
The Company grants vacation leave (VL)credits to employees at the end of each year of
continuous service. In case of necessity to use earned credits in advance, the Company
may allow enjoyment of the same at least 30 days before the employment anniversary
date (i.e., date of hiring).
The number of VL credits per year is
• 15 days – for those with 1 to 9 years of service
• 18 days – for those with 10 years of service and up
Availment of VLsare subject to attendance policies.
Accumulation of credits up to 25 days for supervisors and 30 days for all others is
allowed. Any excess that remains unused as of one’s anniversary date shall be forfeited.
Excess of up to 5 days may be taken within a month from anniversary date.
Exception is given to staff and supervisors who may commute to cash any credit in
excess of 25 days that result from deferments initiated by the Line Head due to work
exigencies. When an approved VL schedule is deferred, this should be re-scheduled
before the next anniversary date. Any further deferment by the Company shall result in
cash conversion of affected credits.
In case of separation from the Company (except if reason is termination for cause), the
employee shall be entitled to the payment of the money value of his unused VL credits
including pro-rata credits, as of the effective date of his separation. Basis for conversion
is last basic salary.
5.2. Sick Leave
Similar to vacation leave, the number of sick leave (SL) credits is based on length of
service and are available for use after a year of continuous service. These may be
availed of when an employee needs to recuperate from his illness and/or undergo a
medical procedure.
The number of SL credits per year is
• 15 days – for 1-9 years of service
• 16 days – for 10 - 19 years of service
• 17 days – for 20 years of service and up
For staff and supervisors, all unused SL credits as of their anniversary date are converted
to cash during the following month.
For managers and officers, unused SL credits are accumulated up to a maximum of 30
days.Any excess is converted to cash on February 25 of each year.Upon separation, all
unused and earned sick leaves is converted to cash for managers and officers only.
5.3. Emergency Leave
A maximum of 7 working days shall be allowed as emergency leave (EL) for each of the
following events:Death of employee’s legitimate spouse, child, parent or sibling; or if his
residence (permanent address, based on 201 files) is completely burned or destroyed
by typhoon or other natural calamities.
In case of accident or serious illness requiring prompt hospitalization of any of the
family members mentioned above, the employee shall be granted a maximum of 2 days
of EL which shall be deducted from his 7-day EL benefit.
5.4. Maternity Leave
Maternity leave shall be granted in accordance with existing laws, 100% of regular pay
during authorized period, net of SSS benefit. The leave period is 60 days for normal
delivery, miscarriage, or abortion and 78 days for Caesarean section.
5.5. Paternity Leave
As provided under the Paternity Leave Act, a married male employee, regardless of
employment status, shall be entitled to a paternity leave of seven (7) working days for
the first four (4) deliveries of the legal wife.
The paternity leave may be enjoyed by the qualified employee before, during, or after
the delivery by his wife, or during or after a miscarriage or abortion, provided that the
same shall be availed of not later than 60 calendar days after the date of delivery,
miscarriage or abortion.
Unused paternity leaves are not commutable to cash.
5.6
Birthday Leave
Jr. Assistant Managers and below are entitled to 1-day leave during their respective
birthdays.If the birthday falls on a non-working day, the leave shall be taken on the
working day immediately following the birthday.
5.7
Union Leave
The Company shall grant, upon prior notice and approval of Division /Department
Head (to consider work load) and HR Head (to consider compliance with CBA), union
leave with pay up to the number of days agreed in the CBA and for agreed purposes.
This type of leave is non-commutative and non-cumulative and not more than two (2)
employees in the same unit or department may avail of said leave at the same time.
5.8Parental
5.8Parental Leave for Solo Parents
Parents (Republic Act #8972)
#8972)
This refers to leave benefits granted to a solo parent to enable said parent to perform
parental duties and responsibilities where physical presence is required as provided
under Civil Service Commission (CSC) Memorandum Circular No. 08, series 2004.
An employee who meets the definition of a solo parent may avail of solo parent leave
of a maximum of seven (7) working days a year if he or she has rendered at least a year
of continuous or broken service. The employee must present to the HR his or her
Department of Social Welfare & Development (DSWD)-issued Solo Parent Identification
Card.
5.9Special
5.9Special Leave for Women (Department of Labor and Employment Order # 112112-A)
This refers to leave benefits for female employees following surgery caused by
gynecological disorders. This is for a maximumtotal period of 60 calendar days per
year.
For purposes of determining the actual leave period, the employee should submit to
the Medical Director the certification of a competent physician as to the required
period of recuperation.
To be qualified, the employee should have rendered a continuous aggregate
employment service of at least six (6) months in the last 12 months.
6. Special Leaves
6.1. Study Leave
Employees who are preparing for the Bar or Board Examinations, or writing their
masteral thesis, may be granted an educational leave up to a maximum period of 6
months for Bar and Board Exams and 1 month for masteral thesis. The period is
chargeable against vacation leave credits or if none/insufficient, shall be without pay.
Further, this may be granted only to employees with at least a year of continuous
service.
6.2
Prolonged Leave without Pay
In appropriate and meritorious cases, the Company may allow an employee who has
rendered at least a year of continuous service to go on leave for a maximum of 30
calendar days without pay.
7. Employee Welfare
7.1. Uniforms
Employees below Officer level are provided uniforms that are periodically replenished
and which they are required to wear at work.
The standard set of uniforms and replenishment periods are as follows:
• Female employees: 5 sets of prescribed uniform every 18 months.
• Male employees: 5 sets of upper wear and 3 pairs of pants every 12 months
In the event a new employee becomes covered within six (6) months prior to a
scheduled change in uniform, s/he shall have to wait for such change before being
issued his first set.
If an employee resigns within 6 months from receipt of the uniforms, he/she shall
reimburse the Company for the entire cost of the uniforms. If employee resigns after 6
months but less than a year after receipt of the uniforms, he/she shall reimburse 50% of
the cost.
In case of loss, damage, or gain in weight, the Company shall provide the employee a
new set of uniforms at the employee’s expense.
As uniforms are provided for proper identification as company employees, old or
current uniforms (particularly those with designs specific to the Company) should not
be given/sold to non-authorized wearers.
7.2. Service Award
The Company has institutionalized the granting of service awards starting at 5 years and
every 5 years thereafter in the form of cash and plaque of appreciation. Award is given
at the end of the calendar year.
Service Years
5
10
Cash Gift
Php 3,000
6,000
15
20
25
30
35
40
8,500
15,000
18,000
23,000
23,000
23,000
7.3. Calamity Assistance
The Company shall grant a financial assistance of Php 25,000 to an employee whose
permanent residence is completely destroyed by fire, earthquake, typhoon, landslide,
flood, or any other natural calamity, provided that said residence is the employee’s
officially registered permanent residence (based on 201 files) and adequate evidence of
loss is presented.
For partial destruction (at least 50%) for same causes as above, a proportionate amount
shall be given by the Company.
7.4. Bereavement Assistance
In case of death of the employee or an immediate member of his family (parent, legal
spouse, or legitimate child), the Company shall contribute the amount of Php 25,000 as
way of financial assistance, provided evidence of such is presented.
In case of unmarried employees, “immediate family” shall include parent (Php 25,000)
and umarried sibling (Php 20,000) provided that the sibling is under 18 years of age, or
if over 18 years old, is e physically or mentally incapable of self-support and is
dependent in fact upon the employee.
7.5. Scholarship Grants of AY Foundation
Through the AY Foundation, , employee’s dependents may apply for scholarship grants
for elementary, secondary or tertiary levels subject to requirements and qualification
standards set by the Foundation.
8. Loan Facilities
All loans are subject to the availability of funds and continuing partnership with loan
providers. In case of separations, the loans become due and demandable.
8.1. Emergency Loan
Regular employees may apply for an interest-free Emergency Loan equivalent to 3
months’ basic pay or Php 100,000 whichever is lower, and to be used for the following
authorized purposes:
• Serious illness of employee/immediate family member (parent, spouse, child or
sibling) that requires hospitalization or special treatment, the cost of which is beyond
the limits of the Company’s Health Plan and/or Group Optional Plan.
• Repair of permanent residence (based on 210 files) due to calamity or fire, the cost of
which is either excluded or is beyond the Company’s calamity assistance.
The loan application is subject to the 30% rule on net take home pay. It is payable over
12 consecutive months, through semi-monthly payroll deductions.
If one has less than 10 years of service in the Company, he is required to have a comaker. Qualified co-maker is a co- employee with at least 10 years of service in the
Company. Should the co-maker separate from the Company before the loan is fully
paid, the employee shall be required to find a new co-maker for the loan balance.
8.2. Tuition Loan
Regular employees may apply for interest-free Tuition Loan up to Php 25,000 for the
payment of their or their qualified family member’s (parent, spouse, child or sibling)
tuition fees.
Covered are kindergarten (highest level), elementary, high school, collegiate and
postgraduate courses. Short courses, day care and pre-school are not covered.
The loan application is subject to the 30% rule on net take home pay. It is payable over
12 consecutive months, through semi-monthly payroll deductions.
Loan application and availment may be made any time during the year. Re-availment
may be done once current loan is fully paid. The loan may be used for more than one
person, as long as the aggregate amount is within the maximum loanable amount and
requested at the same time.
8.3. Salary Loan - c/o tietie-up with RCBC Savings Bank
RCBC Savings Bank extends loans for multiple purposes to employees with at least 2
years of service.
This is subject to a 50% rule on take home pay and the 25%-30% rule on outstanding loan
amortizations from other sources. Loan repayment is made through payroll deductions.
9. Employee Facilities and Services
9.1. Cafeteria
The Grepalife Building Canteen offers reasonably priced meals for breakfast, lunch and
snacks. Operating hours are from 6:30 am to 5:00 pm, work days.
9.2. Chapel
The Grepalife Building Chapel is open for employees’ spiritual needs. A daily mass is set
at 12.05 noon on work days.
9.3. Sports and Recreation Programs
Employees are encouraged to join the Company’s social and sports activities. These
activities are designed to promote camaraderie and friendship among employees.
Description /
Title
Reviewer(s)
Business
Representative
Approver(s)
Business
Manager
Name List
SignSign-off and Approval
Reviewer's SignSign-off
Mary Therese M. Arive
Cecille V Huidem
Approval SignSign-off
Cecille V Huidem 04/29/2012 05:41:01 PM